Friday, June 22, 2012

About 134,000 families in Kentucky will get money back from their health insurance companies this summer. The families, representing about 249,000 people, will get a total of $15.3 million in rebates, which averages out to about $114 for each family. The returns are the result of the Patient Protection and Affordable Care Act.

"As part of the controversial 2010 health insurance overhaul pushed by President Barack Obama, insurance companies must spend 80 percent of all premiums they collect to pay claims or improve health outcomes," reports Beth Musgrave for the Lexington Herald-Leader. "The remaining 20 percent may be spent on administrative costs, such as salaries and advertising."

Insurance companies that did not meet that standard must return the money by Aug. 1. How much each family gets depends on their health insurance policy. (Read more)

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Kentucky Health News is an independent news service of the Institute for Rural Journalism and Community Issues, based in the School of Journalism and Media at the University of Kentucky, with support from the Foundation for a Healthy Kentucky.Republication of any KHN material with proper credit is hereby authorized, but if the republication is longer than a news brief we ask that it contain the first sentence of this paragraph. Thanks!